Safe Bulkers (SB) reported Q1 adjusted earnings Monday of $0.05 per diluted share, down from $0.20 a year earlier.
Two analysts polled by FactSet expected $0.03.
Net revenue for the quarter ended March 31 was $64.3 million, down from $81.7 million a year earlier.
One analyst expected $57.9 million in a FactSet survey.
The shares were up over 3% in after-hours activity.
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